In the trading world, you have to learn who to trust and who to avoid. There are sharks in these waters, and they are ready, willing, and able to prey on anyone who is unsuspecting.
By now, you know what these people look like. You’ve very possibly fallen victim to one of these folks. They make huge promises about growing your wealth, but then when the chips are down, when the market turns, they’re nowhere to
Maybe you’ve seen ads by Roger Scott, the head trader with WealthPress, suggesting he has the proven formula for successfully trading options, and you’re interested, but you’ve been victim to a scam before, and you’re asking yourself, “is WealthPress the same kind of scam?”
We were wondering the same thing, and that’s why we paid for access. We had seen some of WealthPress’ aggressive marketing, with promises like this:
- “Find out how to read the economic cycle like a road map to pinpoint stock sectors that are ready for explosive triple digit gains!”
- “How to leverage gains up to 16x and safely reduce your trade risk.”
- “Roger’s bread and butter options income spreads that generate consistent profit over the past 20 years with extremely low risk.”
We needed to put those kinds of promises to the test to see if any of it was true. We’ve traded with Roger for several months now, here are some of our thoughts.
1) You won’t always win
As with any trading strategy, you’re not guaranteed to always win with WealthPress. But the difference here is, no one is pretending that you will.
Still, you need to be prepared before you invest. Know what you’re willing to risk, and know what you can afford to lose. There can be some big wins with WealthPress strategies, but there can be losses, too. Don’t expect anything different.
2) Like with any trading, there are big risks
Along the same lines, you know when you’re trading options that you’re taking risks. The amount you risk is up to you, of course, but as Scott repeats many times in his presentations, no one can predict the market perfectly.
The difference is, you’re not alone here. Other people are taking these risks with you, including Scott himself. And if you bust, chances are, he busted too. And he’s going to be there the next morning, ready to discuss next steps.
3) Our review of WealthPress shows transparency
I haven’t seen a lot of trading platforms that are as honest about their wins and losses as WealthPress. Scott is open with what he loses, and he advises people how to react to trades that went wrong. Here’s one from a few weeks ago:
“Both Skyworks Solutions (SWKS) and United Rentals (URI) gapped open lower this morning below key support. Buyers are now caught on the wrong side. Let’s liquidate the positions at current market price as we’re expecting these two stocks to continue to trade lower.
Expiration: August 16, 2019
Strike Price: $85 Strike Price CALL option
SELL to CLOSE the SWKS 16AUG $85 Strike Price CALL option at the current market price (midprice is expected to be trading at/near $3.00 at the open).”
That kind of honesty separates Roger Scott from other traders who run from their failures. He embraces them, learns from them, and helps others to do the same.
4) Roger Scott is braver than most
Few traders are willing to give away free trades, but Scott does. He’s honest about his track record, and it’s a good one, but for anyone who isn’t convinced by that, Roger is even brave enough to do live analysis and give trade ideas for free. Beyond that, he’ll even do some analysis on his free picks. That kind of bravery can be very valuable for WealthPress users, who get to watch what he does and, if interested, follow his lead.
As an example, in his Jan. 22 Webinar, he mentioned Qualcomm as a strong buy. That was before their settlement with Apple. If you bought that day and waited till the day of the settlement, at $54.29, and sold it after the spike at $79.08, you got a 45.6 percent increase in your investment. That’s a huge win, and Scott gave it away for free.
Yes, WealthPress has some pretty aggressive marketing. If it were up to us, we’d prefer less aggressive sales pushes that sound too good to be true.
But we’ve scoured the member’s area and the picks and Roger and team do deliver everything they say they will across their several offers and marketing pitches.
We are pretty confident in saying Roger Scott and WealthPress are not a scam. Plain and simple. In fact, from everything we can tell, Roger is one of the “good guys” in the trading world. His tools are transparent, and he is totally, even brutally honest about his biggest wins and his most painful losses.
Trading with WealthPress isn’t going to be for everyone. Like with any trading, there’s risk, and potentially big losses if you choose to leverage your account as aggressively as possible. But you can be certain that you won’t be ripped off; you’ll get exactly what Scott says he will deliver in each one of his services, including signals that have both winning and losing trades.
It might feel like a ripoff when you join a system with amazing results and immediately start to lose trades, but the reality is that it happens all the time. It’s hard to keep your eye on the big picture when you’re losing money here and now and that’s probably why I have seen a few traders call WealthPress a ripoff when they have only traded the services for a week or two.
It’s easy to call something a “scam” because it has a losing streak or you don’t like how the marketer sells it. But let’s be fair: Roger Scott has systems where every single trade in the history of the system — winners and losers — is shown. He gives you access to everything he says you’ll get and then some. And his long term profitability on the systems is extremely impressive.